Exhibit 23(d)(1)(g)
May 1, 2009
Lincoln Investment Advisors Corporation
0000 Xxxxx Xxxxxxx Xxxxxx
Xxxx Xxxxx, Xxxxxxx 00000
RE: Advisory Fee Waiver Agreement - LVIP Delaware Foundation(R) Conservative
Allocation Fund, LVIP Delaware Foundation(R) Moderate Allocation Fund, LVIP
Delaware Foundation(R) Aggressive Allocation Fund
Ladies and Gentlemen:
This letter agreement (the "Agreement") confirms the advisory fee waiver
between the LVIP Delaware Foundation(R) Conservative Allocation Fund, LVIP
Delaware Foundation(R) Moderate Allocation Fund, LVIP Delaware Foundation(R)
Aggressive Allocation Fund (collectively, the "Funds" and each a "Fund"), a
series of Lincoln Variable Insurance Products Trust (the "Trust"), and Lincoln
Investment Advisors Corporation (the "Adviser") with respect to the portfolio
management of the Funds.
1. Advisory Expense Waiver. The Adviser has agreed to waive a portion of
the advisory fee payable to the Adviser under the Investment
Management Agreement, dated as of April 30, 2007, as amended
("Investment Management Agreement"), between the Fund and the Adviser,
as set forth in the attached Schedule A.
2. Term and Termination. This Agreement shall become effective on May 1,
2009 and shall continue for an initial term ending April 30, 2010. The
Agreement shall renew automatically for one-year terms unless the
Trust or the Adviser provides written notice of the termination of the
Agreement within 30 days of the end of the then current term. In
addition, this Agreement will terminate automatically in the event of
the termination of the Investment Management Agreement or the
termination of the Sub-Advisory Agreement, dated May 1, 2009 between
the Adviser and Delaware Management Company.
3. Governing Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of Delaware, provided that
nothing in this Agreement shall be construed in a manner inconsistent
with the Investment Company Act of 1940, as amended, or the Investment
Advisers Act of 1940, as amended.
Please indicate your approval of this Agreement by signing and returning a copy
of this letter to the Fund.
Very truly yours,
LVIP Delaware Foundation(R) Conservative Allocation Fund
LVIP Delaware Foundation(R) Moderate Allocation Fund
LVIP Delaware Foundation(R) Aggressive Allocation Fund,
each a series of Lincoln Variable Insurance Products Trust
/s/ Xxxxxxx X. Xxxxx, Xx.
----------------------------------------
Name: Xxxxxxx X. Xxxxx, Xx.
Title: Second Vice President and Chief Accounting Officer
Agreed to:
LINCOLN INVESTMENT ADVISORS CORPORATION
/s/ Xxxxx X. Xxxxxxx
----------------------------------------
Name: Xxxxx X. Xxxxxxx
Title: Second Vice President
Schedule A
Waiver
Fund Avg. Daily Net Assets of the Fund Amount*
---- ----------------------------------- -------
LVIP Delaware Foundation(R)
Conservative Allocation Fund... All assets of the Fund 0.10%
LVIP Delaware Foundation(R)
Moderate Allocation Fund....... All assets of the Fund 0.10%
LVIP Delaware Foundation(R)
Aggressive Allocation Fund..... All assets of the Fund 0.10%
* These amounts are stated on an annual basis.
